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The differences between bank specialists and banking associates can be seen in a few details. Each job has different responsibilities and duties. Additionally, a banking associate has an average salary of $81,890, which is higher than the $42,779 average annual salary of a bank specialist.
The top three skills for a bank specialist include bank products, strong customer service and customer relationships. The most important skills for a banking associate are excellent interpersonal, strong customer service, and financial transactions.
| Bank Specialist | Banking Associate | |
| Yearly salary | $42,779 | $81,890 |
| Hourly rate | $20.57 | $39.37 |
| Growth rate | 10% | -12% |
| Number of jobs | 22,225 | 18,919 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 62% | Bachelor's Degree, 63% |
| Average age | 43 | 39 |
| Years of experience | 4 | - |
A bank or banking specialist is an individual responsible for maintaining effective business relationships with the bank's clients while ensuring an optimal customer service level. To support customer retention, bank specialists must identify their customers' banking needs and suggest appropriate bank products and services. They perform teller functions such as processing customer deposits, cashing checks, and issuing official checks. Bank specialists must also ensure that the bank complies with government regulations and standards.
A banking associate's role is to build positive relationships with clients by performing support tasks. Their responsibilities revolve around greeting clients, processing requests and documentation, gathering and verifying requirements, responding to inquiries and concerns, and offering other services and products to clients. They may also produce progress reports, financial statements, coordinate with team members, and liaise with external agencies. Furthermore, as a banking associate, it is essential to handle issues and complaints, all while adhering to the bank's policies and regulations.
Bank specialists and banking associates have different pay scales, as shown below.
| Bank Specialist | Banking Associate | |
| Average salary | $42,779 | $81,890 |
| Salary range | Between $28,000 And $64,000 | Between $47,000 And $141,000 |
| Highest paying City | New York, NY | White Plains, NY |
| Highest paying state | New York | New York |
| Best paying company | Goldman Sachs | Citi |
| Best paying industry | Finance | Finance |
There are a few differences between a bank specialist and a banking associate in terms of educational background:
| Bank Specialist | Banking Associate | |
| Most common degree | Bachelor's Degree, 62% | Bachelor's Degree, 63% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | - |
Here are the differences between bank specialists' and banking associates' demographics:
| Bank Specialist | Banking Associate | |
| Average age | 43 | 39 |
| Gender ratio | Male, 45.3% Female, 54.7% | Male, 41.8% Female, 58.2% |
| Race ratio | Black or African American, 5.7% Unknown, 4.1% Hispanic or Latino, 11.9% Asian, 11.4% White, 66.6% American Indian and Alaska Native, 0.2% | Black or African American, 10.1% Unknown, 3.5% Hispanic or Latino, 17.8% Asian, 7.4% White, 60.7% American Indian and Alaska Native, 0.6% |
| LGBT Percentage | 6% | 7% |